Can you always make the right decision in branding and marketing your business?

In making branding and marketing decisions for your business, is there a way to ensure you will always make the right choice? I believe the answer is yes!

Mountains are climbed. Rivers are conquered. Records are set. These achievements occur because one of the benefits of being human is the ability to choose among the many opportunities that present themselves each day and to make a choice.

Marketing and branding your business is much the same. You can choose to market and brand your company or not. You can choose to take risks to move your company forward or not. However, in the final moment, before you retire or sell your business, your choices regarding your business will be no more. At the end of your career would you rather say “I’m glad I did” or “I wish I would have?”

So how are great accomplishments achieved? In the moment of decision, you weigh the potential benefits of various courses of action against the potential costs. Some times the choices are between a course of action that offers the least amount of risk or the greatest amount of reward. Great accomplishments occur when the latter path is chosen. While not every decision we are faced with every day is one that carries the weight of tremendous achievement, we all still strive to make decisions that will be the most beneficial to our business. So with all of the marketing and branding decisions you encounter everyday, is there a correct way to making the right decision every time? I believe the answer is Yes!

The secret to making the right decision every time is to determine what will take you closer to your “Exit Plan” (EP). Did you notice I wrote “Exit Plan” and not the popular business term “long-term goal?” The difference between the two is vast. Long-term goals are things your business would like to accomplish. EP’s are things your business must accomplish. These are goals that you want to achieve no matter what it takes. In addition, an EP will reduce the amount of time spent to make a marketing or branding decision.

One of the best ways to determine the difference between your long-term goal and EP is to ask yourself the following question: “If I knew I was going to retire/sell my company one year from today, what would I need to accomplish?” One year is a very good length of time because it gives you the time to achieve your goals, yet it limits how much time you can waste. So, what is your Exit Plan?

If you already have a list of EP’s waiting on the tip of your tongue, it’s time to put them in ink. Writing down your goals is a time-tested tactic for the achievement of success that has been replicated by everyone from self-help guru Anthony Robbins to actor Jim Carey. It worked for them. It can work for you.

Take your time and really think about your EP. When you’ve got your list, write it down and don’t look at it for three days. When you see the list again, decide if there’s anything that you want to change. Repeat the process until the goals on the list represent your EP.

Here is an example of an EP and examples of marketing and branding decision opportunities:

Exit Plan Components:

#1: Increase sales by 100%

#2: Increase turnover rate by targeting sphere of influence buyers with marketing letters, sales calls and promotional offers.

#3: Create a website blog to increase visitor interaction, add cross-sell links and increase page views per visit from 4.56 to 9.0.

#4: Increase number of national distributors from 3 to 6.

Opportunity Presented: Attend and exhibit at industry tradeshow

Should This Action Be Taken:

Yes – This action should be take because it supports #2 and #4. Tradeshows can present opportunities to meet influential buyers and potential distributors.

Opportunity Presented: Advertise in local newspaper

Should This Action Be Taken:

No – This action should not be taken because it does not support the EP. It may be more appropriate to advertise in a regional or national newspaper? The increased exposure may lead to more sales than the local paper, thus better supporting the 100% increase in sales goal.

Opportunity Presented: Hire new web design company

Should This Action Be Taken:

Maybe – This action should be taken because it supports #3. The company should spend the time to interview the new web design company.

Every marketing and branding decision you make from this day forward, make sure it supports your Exit Plan. Will your decision take you closer to your Exit Plan? If it does, it is the right decision for you and your brand. If the opportunity doesn’t help accomplish the EP, the answer should be a “No”.

This article provides an insight into my 8^th upcoming book entitled: A Step-by-Step Guide to Taking Full Advantage of Marketing and Branding Opportunities.